Jobless Claims Lowest Since October 2007

Brendan Conway joins the News Hub with a look at today's market action, including three stocks to watch today. Photo: Getty Images.

This transcript has been automatically generated and may not be 100% accurate.

... the the ... the Dow coming off its biggest percentage decline since late June with Wednesday's one hundred and thirteen point drop what's in store Thursday Brendan Conway of Barron's is here he's got a preview Brenda morning Ralf area so let's first clear at some economic data we got just now ... I'd tell us first off jobless claims Africa it ... fully yet you know ... that that that actually came in and ... are cleaner twenty thousand claims which is the lowest figure since I think when two thousandseven so I actually I'd I'd I think the likely sell it as the Yeti did this this this actually ... be a good sign to normal market but it's funny mention I could because this is not a normal market ... people are viewing this in light of how it influences the Fed ... in what the Fed is going to tear Bond Buying Koreans ... I think if anything the signal so the Fed things are improving ... that might mean dialing back which ... means Pizarro world market ... could be taken as a bad signal ... I've ... definitely news is bad is going good and bad news in the futures deftly didn't perk up on that at least one glass of ice off so that's interesting meanwhile several EU get you get CPI data today inflation data ... and that also looks very and ... yet you know that that that is soo right in line with economists think so certainly that's not to proceed with it in one direction reduction doesn't seem to get zero point two percent ... ah for July CPI higher both your point two percent for the overall figure answer and point two percent ... for the core CPI trading in energy so not much inflation ... right right ... ok aam ... I'd tell us ... how how was the market can react to that anything as well ... well you know Rolfe I think that the thing setting the tone today are kind of these ... could include grim forward-looking reports ... ah from Hilton bellwether names you and talk about ... the alleged stocks yet three stocks were looking at so first up was Cisco yet Cisco is interesting because ... they hadn't Teyssen report but there for guidance was bad and they laid off ordered the their plans to lay off ... five percent of global workforce ... remember the last several years ... anytime I you know them are to be pretty grim about this but ... anytime a major company said drilling the five or ten percent of our workforce stock would go up because everyone viewed as a sign that cost consciousness that's not their game system giving it a sign of weakness ... this is a period where people want these big companies to come and go for the juggler ... and you know in in a deal that extent ... than Cisco's very cautious of ... that stock is down eight percent of people speaking of night disappointments Wal-Mart ... you know ... that's another case where he was not a bad quarter sales were not as good as they wanted it again this forward guidance that ... Wal-Mart is very cautious about what happens from here ... ah so again that's another stock that you know who normally doesn't zip around much that's down more than two percent in premarket let's move over to ... a non stock ... holds the ... calling of a lot of thirteen x yesterday they were pretty interesting and by that I should say for people this ... hedge funders ... told the market this is what my holdings were as of the end of June the upper this right that's right ... and you know ... this is interesting because after year twelve straight years of price rise for gold it's been a terrible year ... what's changed is that the kind of big name investors have been selling off and sure enough in the second quarter ... all you see John Paulson who is the biggest holder of the gold ETF anywhere he of the biggest and most was that ... he caught his position by more than half ... of corn he wasn't lying when he also had for Wells had cut their Dan Loeb and George Soros calls both had ... it both have already announced their gold holdings the idea and ... you know ... source doesn't matter because he's a big hole there it's more that he's come in one of these you know people who touches area literally price of gold but he had its mobile business uncovered accuse also to that of gold miner ETF ... got rid of it ... I'm what you seen the price of gold this morning is interesting because gold often tends to rise when stocks fall and people can ... get nervous today it's about flat ... so ... what what I really that is at least a little bit of relief that kind of the Avandia yet the economy this week hedge fund certainly found again it's a second-quarter dance and we're a month and a half that's if they've sold a lot of their holdings already then that's ... theoretically an overhang that's not there the exactly um tactics that might be you know good for the gold looks ok we've got fourth in a bonus stock everyone in a brand brand ... brand and is it gives the middle called the Facebook of China ... I just thought was interesting because lately everyone sees every discovered the social media area Facebook's stock is going up and open up ... forever and ... that she is getting hammered in premarket thirteen percent of the CEO said the slowdown means inserted the games that are available ... on the platform it just goes to show you that it's again industry ... and if it goes up really fast you can probably expect to come down